The Energy and the Corn Report
By Phil Flynn
15 September 2009 @ 09:12 am EDT
The phones were ringing off the hook. What the heck is going on in natural gas? Why is natural gas going up? How can natural gas dare rally when the amount of working gas in storage is 17.4% above the five year average and on target to end the refill season at an all time high? Well in short, the easy answer is that it was just too cheap. Not the answer perhaps you were looking for but perhaps it is the most accurate one. Especially for the month of September which I have pointed out is very strong from a seasonal viewpoint. I guess it is hard to fight your seasonal nature sometimes. But despite being just too cheap and a seasonal bottom, for those who want more there were other stories that helped add to the explosive bullish momentum.